Tristar Group adopts blockchain to tackle logistic challenges

As the latest step in its ongoing digital transformation strategy, Tristar Group, a logistics solutions provider, has unveiled a new Proof of Concept (POC) based on blockchain technology aimed at supporting its logistics business.

Eugene Mayne, Tristar's Group CEO, said: "Blockchain
technology gives us the ability to provide irrevocable verification and
oversight to complex processes and movements of products to our customers.
Records stored in the blockchain are computationally almost impossible to
alter, leading to unprecedented verification and transparency to all
stakeholders involved in a particular transaction."

He added: "We are proud to once again place Tristar at the
forefront of our industry. Blockchain technology has the potential to disrupt
the logistics industry in the same way that the internet disrupted traditional
business models around 20 years ago."

Tristar's new solution is also expected to cutback on
the number of human errors and paper wastage, while optimising warehousing
manpower and scheduling. Tied together with the company's Warehouse Management
System and transportation platforms, the solution will enable customers to
access a single interface to monitor records and interact directly with Tristar.

Founder and CEO,
Christopher Fernandez, Block Gemini Technologies, says: "Whilst many
organisations have discussed the potential applications of blockchain
technology to their business and in some cases, developed limited POCs, the
platform that we developed for Tristar is one of the first of its kind in the
world and it is currently operational."

Mayne added: "Several
large companies and Dubai Government entities have initiated blockchain POCs of
their own, so we are very proud to be amongst such esteemed companies."